BITCOIN DOWNTREND BELOW 6K IS AS FOLLOW.
The bitcoin fractal is still playing out as expected,
THE SUB 6K area is where bulls could find the strongest support.
W time frame is in control as btc is ready to break the W 20ma at 8450 on bitstamps. If that happens, bulls will have to step out of the way for the next few weeks before any strong bullish momentum could be triggered.
At the same the W 200ma, currently at 5440, will be acting as a major support and also is aligning with the fractal described above.
So basically to key areas
1=W20ma 8454
2=W200ma 5440
I key area for bullish momentum: a break above 10500
Follow me on YT as "SEN CRYPTO" for market daily analysis
Followme on twt @ SENCRYPTO0
The bitcoin fractal is still playing out as expected,
THE SUB 6K area is where bulls could find the strongest support.
W time frame is in control as btc is ready to break the W 20ma at 8450 on bitstamps. If that happens, bulls will have to step out of the way for the next few weeks before any strong bullish momentum could be triggered.
At the same the W 200ma, currently at 5440, will be acting as a major support and also is aligning with the fractal described above.
So basically to key areas
1=W20ma 8454
2=W200ma 5440
I key area for bullish momentum: a break above 10500
Follow me on YT as "SEN CRYPTO" for market daily analysis
Followme on twt @ SENCRYPTO0